Stock analysis is used by traders to make buy and sell call. It’s an approach to make informed decisions while investing in stocks. Stock analysis can be categorised into – fundamental analysis and technical analysis. Fundamental analysis is evaluation of data from sources, including financial records, economic reports, company assets, and market share. Analysts typically study the company’s financial statements – balance sheet, income statement, cash flow statement, and footnotes. These statements are made available to the investors in the form of quarterly earnings, disclosures to stock exchanges in compliance with the Securities and Exchange Board of India (Sebi) norms. In fundamental analysis, the analysts particularly check for a company's core income, income from other sources, profitability, guidance, assets and liabilities and debt ratio among other parameters. The other method, i.e. the technical analysis focuses purely on statistical data. It works on two assumptions; one, the stock price reflects the fundamentals. Second, the study of past and present movement in prices can help determine the future price trends. Technical analysis primarily deals with price, volume, demand and supply factors. This method is effective only when supply and demand forces influence the market. However, when outside factors are involved in a price movement, technical analysis may not be successful. More
Bulls appear to be in healthy momentum and may continue driving the market rally further. Below are some short-term trading ideas to consider.
Linde India formed strong bullish candlestick pattern on the daily charts with significantly higher volumes. The stock traded above all key moving averages and continued higher highs, higher lows formation for yet another session.
Linde India has seen a nice breakout of downward sloping resistance trendline adjoining highs of October 12, 2023 and February 19, 2024. The stock formed long bullish candlestick pattern on the daily charts with above average volumes.
Nifty is still holding above 20, 50 and 100 day EMAs, which indicates the bullish trend on all time frames.
The trend is definitely positive, but considering the one-way rally of last several sessions, the possibility of some profit taking can't be ruled out in near term before we are getting into next leg of upmove, experts said.
Tube Investments of India jumped 5 percent to settle at record closing high of Rs 3,172 and formed long bullish candlestick pattern on the daily timeframe, with above average volumes, after three-day consolidation.
Nazara Technologies has seen a decisive breakout of current month's consolidation range and jumped 5 percent to Rs 661, the highest closing level since October 28, 2022. The stock has formed long bullish candlestick pattern on the daily scale with above average volumes.
The 17,300 level is expected to act as a crucial support, followed by the recent swing low of 17,250 and, if the said levels get broken, then there could be correction up to the 17,000 mark
Linde India's correction post April 2022 was structured, with no signs of a Lower Low, Lower High formation. The stock recently broke out of an Inverse Head and Shoulder pattern, signaling a potential reversal and continuation of the prior uptrend.
With Friday's high, Polyplex Corporation has registered an all-time high which signals bullish sentiments. The major trend remains very strong across all timeframes as the stock continues to form higher tops and bottoms.
The price behaviour of Bandhan Bank for the last few trading sessions is hinting that this scrip is on a sustainable pullback mode. Moreover, the last 50 weeks of price behaviour is hinting that this counter is moving in some form of a downsloping channel.
Chalet has been forming a higher high - higher low pattern for the past couple of weeks after finding support near the Rs 211 mark.
For the coming week, Ruchit Jain of 5paisa.com says 17,500 will now be seen as the important support while a move above 17,700 could again lead to a buying interest amongst market participants and take the index towards 17,900-18,000
Selling pressure at higher levels after the sharp rally indicate a pause in the momentum, which is healthy for a further upside, technical experts said.
We expect the domestic prices of gold to touch Rs 41,000-41,900 per 10 gram
We advise to continue maintain a strict trailing stop loss on long position, and book profit at higher level on weakness.
The S&P BSE Smallcap Index plunged 3.48 percent, while S&P BSE Largecap and Midcap index fell 1.26 percent and 2.27 percent, respectively.
Here are a few top buzzing stocks picked by CNBC-TV18's analysts in trade today - Titan, Tata Elxsi, Arvind, Page Industries, Rupa, Lux, AB Fashion, Godrej Properties, Linde India,Vindhya Telelinks, Universal Cables, Relaxo Footwears and Swelect Energy.
Sudarshan Sukhani of s2analytics.com is of the view that one may buy Alphageo (India), Linde India, Axis Bank and Bata India.
Aashish Tater of FortuneWizard.com is of the view that one can expect 25-30 percent immediate return in Linde India over next six months.
According to Prakash Diwan of Altamount Capital Management, one may go long in Linde India with a target of Rs 301 and Voltas with a target of Rs 90.50.
Prakash Diwan of Asit C Mehta advises going long on Linde India for a target price of Rs 301 and Voltas for a target price of Rs 90.50.
Shardul Kulkarni of Angel Broking is of the view that, one can accumulate BOC India around Rs 280-300 as the stock is expected to rally towards Rs 390-400 in next 6-8 weeks.
BOC India and Timken India has potential to move up by 25%, says SP Tulsian of sptulsian.com.
BOC India can move to about Rs 500 in next six months, says SP Tulsian, sptulsian.com.